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UK investigates Facebook’s deal with Giphy

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The UK competition supervisor yesterday launched a preliminary investigation into Facebook’s already completed acquisition of Giphy.

The world’s largest social media company bought Giphy, an internet service for creating and sharing animated GIF images, in May last year to integrate it with its hugely popular photo-sharing app Instagram.

However, in June, a source told Reuters that Facebook was suspending Giphy’s Instagram integration after the Competition and Markets Authority (CMA) handed the company an initial writ of execution.

Governments around the world are seeking to strengthen regulation of tech companies that have become even more powerful during the COVID-19 pandemic. The CMA said last month that special rules should be used in this matter.

“We will continue to fully cooperate with the CMA in the investigation. This merger promotes competition and is in the interest of everyone in the UK who uses GIPHY and our services, ”a Facebook spokesman said.

By March 25, the CMA must decide whether to conduct an in-depth investigation.

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